This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 2 Forms Of Business Organisation – Quiz 30 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 30 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Previous companies Acts does NOT include ..... A) Indian Comanies Act of 1913. B) Companies Act 1956. C) Indian Companies Act 1882. D) Companies Act 2013. Show Answer Correct Answer: D) Companies Act 2013. 2. The disadvantages of this business organization include unlimited liability, difficulty raising financial capital, difficulty attracting qualified employees, and having a limited life A) Sole Propriotorship. B) Partnership. C) Corporation. D) None of the above. Show Answer Correct Answer: A) Sole Propriotorship. 3. What is the minimum number of members which are required to form a cooperative society? A) 2. B) 7. C) 10. D) 20. Show Answer Correct Answer: C) 10. 4. ..... activities are primarily meant for monetary gains or for making profits. A) Non Economic activity. B) Economic activity. C) Social Activity. D) Charitable activity. Show Answer Correct Answer: B) Economic activity. 5. An entrepreneur who starts business with the help of natural talents is known as A) Motivated entrepreneur. B) Induced entrepreneur. C) Spontaneous entrepreneur. D) Pure entrepreneur. Show Answer Correct Answer: C) Spontaneous entrepreneur. 6. What is the biggest risk of starting a new business? A) Losing Money. B) Being Successful. C) Making Money. D) Failing. Show Answer Correct Answer: D) Failing. 7. Registration of a partnership business is ..... A) OPTIONAL. B) COMPULSORY. C) All the above. D) None of the above. Show Answer Correct Answer: A) OPTIONAL. 8. Joint Stock company can not raise huge amount of capital. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 9. There is a separation of ownership & management in Joint Stock Company. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 10. In sole proprietorship business operations are confidential and secret. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 11. The board of directors of a joint stock company is elected by A) General public. B) Government bodies. C) Employees. D) Shareholders. Show Answer Correct Answer: D) Shareholders. 12. Name the act that grants equal coparcenery rights to girl child of the family. A) Hindu succession Act, 1956. B) Companies Act, 2013. C) Indian Partnership Act, 1932. D) Hindu Succession act, 2005. Show Answer Correct Answer: D) Hindu Succession act, 2005. 13. Every partner acts in the capacity of- A) An agent as well as a principal. B) Only an agent of the firm. C) Only principal of the firm. D) None of the above. Show Answer Correct Answer: A) An agent as well as a principal. 14. The easiest form of business to start and end is a(n) A) Limited liability partnership. B) S corporation. C) Franchise. D) Proprietorship. Show Answer Correct Answer: D) Proprietorship. 15. Which is NOT TRUE about Limited Partnership A) Liability of at least one partner is Unlimited. B) Other partners liability can be limited. C) Registration of Partnership is Optional. D) Death of limited partners will not affect the continuity of the firm. Show Answer Correct Answer: C) Registration of Partnership is Optional. 16. Sole Traders, Partnerships and Private Limited Companies are in which sector of the Economy? A) Private Sector. B) Public Sector. C) Third Sector. D) None of the above. Show Answer Correct Answer: A) Private Sector. 17. Where does the money used by public enterprises come from? A) Private investors. B) International organisations. C) Taxpayers. D) Foreign governments. Show Answer Correct Answer: C) Taxpayers. 18. Lifting corporate veil is ..... A) A principle that will protect members and officers from being liable to debts and obligations of the company. B) An action where the separation of the company from its members is no longer available. C) Contents in Constitution that inconsistent with Companies Act 2016. D) None of the above. Show Answer Correct Answer: B) An action where the separation of the company from its members is no longer available. 19. This type of business is owned by two or more people. A) Sole Proprietorship. B) Partnership. C) Corporation. D) Franchise. Show Answer Correct Answer: B) Partnership. 20. As a result of the concept of limited liability, shareholders of an incorporated business: A) Are limited in the dividends that can be paid. B) Have limited control over business decisions. C) Can sue the business if unhappy. D) Are only liable for their investment. Show Answer Correct Answer: D) Are only liable for their investment. 21. ..... sector is concerned with the extraction or generation of products from the earth. A) Primary Sector. B) Secondary Sector. C) Tertiary sector. D) Quaternary Sector. Show Answer Correct Answer: A) Primary Sector. 22. What is one advantage of franchising for the franchisee? A) No fees to pay. B) Higher profits. C) Lower risk of failure. D) Complete independence. Show Answer Correct Answer: C) Lower risk of failure. 23. Which of the following is a feature of a Cooperative Society? A) Profit motive. B) Voluntary membership. C) Single ownership. D) Unlimited liability. Show Answer Correct Answer: B) Voluntary membership. 24. Name the law which governs joint Hindu family A) Family law. B) Muslim law. C) Hindu law. D) All of the above. Show Answer Correct Answer: C) Hindu law. 25. Sonam, Ritu and Sazia wish to start a partnership. They got a document prepared, which stated the terms and conditions in order to run the partnership organization. Identify the document prepared. A) Partnership Agreement. B) Partnership Notice. C) Partnership Declaration. D) Partnership Deed. Show Answer Correct Answer: D) Partnership Deed. ← PreviousNext →Related QuizzesClass 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 1Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 2Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 3Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 4Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 5Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 6Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 7Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 8Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 9Class 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books